BGP is currently performing a major upgrade to the vessel in Singapore to expand its workspace and towing capabilities and to install a state-of-the-art seismic equipment package. BGP and TGS expect the Pioneer to be ready to start work in January 2007. The charter will last for a minimum period of one year with an option for TGS to extend the charter by one additional year under the same commercial terms. TGS expects to employ the Pioneer initially on its planned multi-client 3D projects in the Africa and Europe markets.
TGS-NOPEC Geophysical Co. (TGS) is a leading global provider of multi-client geoscientific data, associated products and services to the oil and gas industry. TGS specializes in the creation of non-exclusive seismic surveys worldwide. The company provides advanced depth imaging solutions and software through its TGS Imaging division. Well log data is available for conversion, sourcing, management and immediate delivery through TGS subsidiary, A2D Technologies. Multi-client interpretive products and subsurface consulting services are provided through the company's Aceca subsidiary. The TGS family of companies places a strong emphasis on providing high-quality data and the highest level of service to the industry.
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